Market sentiment has turned against Hargreaves Lansdown over the past 12 months and it was the object of investors’ disaffection again today after analysts warned of clouds looming over the once-popular online investment platform.
Shares in the FTSE 100 company have fallen back more than 40 per cent over the past 12 months and they were in reverse once more after RBC argued that short-term uncertainty hanging over the stock meant it would struggle to outperform its sector peers over the next year.
According to Ben Bathurst, an analyst at the Canadian investment bank, key issues included the group’s search for a new chief executive and the potential for that person to revise Hargreaves Lansdown’s long-term strategy; its exposure to the direct-to-consumer market, which Bathurst
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